10th Dec 2021 14:50
nanosynth Group PLC - digital monitoring and safeguarding systems manufacturer formerly known as Remote Monitored Systems - Says it entered a new joint venture agreement with Volz Holdings vos to develop, market and sell an anti-pathogenic product for the global filtration market. Both also agreed to license their respective proprietary filtration and manufacturing technologies to the joint venture. Confirms companies will also be on the board of directors of the joint venture. Says it will initially own 51% of it and provide up to GBP50,000 of funding for initial working capital under the terms of a loan agreement. Says the loan agreement has been entered already.
"I am delighted to be able to report the signing of the joint venture agreement with Volz which has the potential for us to develop an outstanding heating, ventilation, and air conditioning product at a time of great need around the globe. With the unfortunate prospect of further Covid variants likely in the future, we envisage excellent longer-term sales prospects. We very much look forward to working with Volz on this innovative project using our proprietary technology," Chief Executive Mark Duffin commented.
Current stock price: 0.91 pence, up 54% on Friday
Year-to-date change: down 33%
By Abby Amoakuh; [email protected]
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